Nigel Farage Under Scrutiny for $6.7 Million Donation from Tether Billionaire

According to a report by The Guardian, Nigel Farage, the leader of Reform UK, received a substantial donation of approximately £5 million (around $6.7 million) from Christopher Harborne, a billionaire with ties to the cryptocurrency company Tether, prior to announcing his candidacy for the Clacton seat in 2024. The Conservative Party has referred Farage to the Parliamentary Standards Commissioner, and Labour has also accused him of violating House of Commons rules. Farage acknowledged the donation in an interview, stating it was intended to ensure his safety and security. Harborne, who holds a 12% stake in Tether, made the donation in 2024, before Farage's election to the Clacton seat. A Reform UK spokesperson described the payment as a 'personal unconditional gift' unrelated to Farage's decision to run for office, and expressed confidence that all necessary declarations had been made in accordance with the rules. The Commons code of conduct requires new MPs to disclose benefits received in the 12 months preceding their election. The Conservative Party has requested an investigation into whether any of the donated funds were used for political activities rather than security. Labour has also criticized Farage, stating that he 'appears to have broken the rules again.' The UK has seen significant crypto donations, including a £9 million donation from Harborne to Reform UK, and a £4 million donation from BitMEX co-founder Ben Delo. In response to concerns about the potential for foreign money to influence UK politics through cryptocurrency donations, the UK government has imposed a moratorium on such donations and plans to introduce criminal penalties for non-compliance.